Tuesday, August 20, 2013

Boomer speaks from the heart about the hardship his family faced when his mother, Irene, died when Boomer was only 7. He’s also a passionate fan of life insurance because, as a father himself, he understands how different things would have been growing up if his mother had life insurance.

Life insurance can do some pretty amazing things for people. It can buy loved ones time to grieve. It can pay off debts and loans, providing surviving family members with the chance to move on with a clean slate. It can keep families in their homes and pre-fund a child’s college education. It can keep a family business in the family. It can provide a stream of income for a family to live on for a period of time. Life insurance can do all of these wonderful things for your family…there’s just one small catch. You need to own life insurance.

There’s a growing crisis of too many Americans not having adequate life insurance protection. According to the industry research group LIMRA, 30 percent of US households have no life insurance whatsoever. Today there are 11 million fewer American households covered by life insurance compared with six years ago. Here’s the bottom line: A majority of families either have no life insurance or not enough, leaving them one accident or terminal illness away from a financial catastrophe for their loved ones.

What if you were suddenly gone and your family had to manage on their own? When was the last time you did the math to make sure your loved ones would be OK financially? Have you checked with your employer to find out what kind of life insurance benefit you have through work and whether you have the option to increase your coverage? When was the last time you had your life insurance needs reviewed by an insurance professional?

To make sure Americans are reminded of the need to include life insurance in their financial plans, the nonprofit LIFE Foundation coordinates Life Insurance Awareness Month. Each September, LIFE is joined in this educational initiative by more than 100 of the nation’s leading insurance companies and industry groups. LIFE’s website is the leading source of objective information about life insurance. Spend a few minutes learning more and trying our interactive tools like the Life Insurance Needs Calculator. If you find that you have a need for coverage, we strongly urge you to act by contacting at 832-541-7388 or www.ryaninsuresme.com. Your family’s financial future is too important to leave to chance.

Aug. 20, 2004

Tow Jam Sets Record: A record-setting 83 tow trucks parade through the streets of Wenatchee, Wash., to set a Guiness World record.

Aug. 21, 1897

Oldsmobile Founded: Ransom Eli Olds forms Olds Motor Vehicle Company in Lansing, Mich. It would become part of General Motors in 1908 and the division closed in 2004.

Aug. 22, 1950

Speed Control Patented: Ralph R. Teetor of Hagertown, Ind., patents a speed-control device that would be developed into what we now know as cruise control.

Aug. 23, 1913

Yosemite Motor Vehicle Ban Lifted: For the first time automobiles are allowed into Yosemite National Park.

Aug. 24, 1958

First Woman to Race in Formula 1: Maria Teresa de Filippis races a Maserati 250F in the Portuguese Grand Prix to become the first woman to race in the Formula 1 Championship.

Aug. 25, 1910

Shaw Livery Company Founded: Walden W. Shaw and John D. Hertz form the Walden W. Shaw Livery Company, which would later become the Yellow Cab Company. Hertz would go on to become a household name for the eponymous rental car company.

Aug. 26, 1940

LaSalle Discontinued: After 14 years, Cadillac ceases production of the LaSalle.

Do you own something special, such as a collector vehicle, or maybe a collection of model trains, figurines, sports memorabilia, or stamps? Even if you don’t consider yourself a collector, you might benefit from the specialty coverage we offer for these items.

Typical auto and homeowners insurance policies don’t protect the full collector value of collector vehicles and collectibles. That’s why Hawkins Insurance & Financial Services is offering coverage for our clients through American Collectors Insurance who has designed insurance with collectors in mind:

Collector-vehicle insurance provides affordable Agreed Value coverage, which guarantees the full-insured value of your vehicle in the event of a total loss. Coverage is available for a broad range of collector vehicles, including muscle cars, street rods, exotics, antique trucks and motorcycles, and even unique vehicles such as farm tractors, military vehicles, and more! The coverage provides flexible usage and mileage options, along with a choice of deductibles and spare parts coverage. The Towing & Labor for Collectors (TLC) Plan reimburses for emergency services tailored to car hobbyists.

Collectibles insurance provides broad coverage for a wide variety of collections including automobilia, wine, coins, comic books, and more. The coverage will protect your collection against accidental breakage, fire, flood, theft, hurricane, earthquake, and even the packaging of your collectibles. Multiple collections in your household can be covered on the same policy, and you can choose from various deductible options, including zero. Optional Collector’s Choice coverage provides protection for items being shipped, stored outside of the residence, used for special occasions, and more.

Getting a quote is easy. You don’t need to have any fancy appraisals or inspections to secure coverage. Just provide some basic information and our agency will be happy to provide a quick, free quote on your prized possessions.

WHAT WENT WRONG: Whether or not you’re a classic motorsports fan, this story will leave you with a sick feeling in your stomach. The owner of three 1960s race cars had the vehicles trailered by a race prep shop. On the way to a show, the truck hauler caught fire and the flames moved quickly to the trailer. Before the cars could be removed, all were lost.

DAMAGE/LOSS: The ’65 GT350 (valued at $160,000), ’69 Porsche 911 ($80,000) and ’69 Camaro ($65,000) and were total losses.

LESSON: Losing three classic automobiles with racing pedigrees was tough enough to swallow. But the story gets worse. The cars were not insured by the owner, who thought off-track insurance was pointless and also figured that the prep shop’s insurance would cover any damage en route. It didn’t. When you self-insure your classic cars, you roll the dice. In this case, proper insurance coverage would have cost the owner a small fraction of the $305,000 that was lost.